Isatoic Acid Anhydride Market Analysis
Isatoic Acid Anhydride Market is projected to be worth USD 98 Billion by 2030, registering a CAGR of 12% during the forecast period (2020–2030), reveals the new Market Research Future (MRFR) report. Isatoic acid anhydride derived from anthranilic acid is a solid organic compound that is white in color. It is made by the reaction of phosgene and anthranilic acid. It is also known as N-carboxylic acid anhydride, 2-aminobenzoic acid, and o-amino-benzoic acid. In appearance, it is solid when pure, while commercial samples are often yellow. Its linear formula is C6H4 (NH2) CO2H. By structure, isatoic acid anhydride has an amine, a carboxylic acid, two adjacent functional groups, and a benzene ring.
Owing to its alluring features, isatoic acid anhydride market has extensive applications. Industrially, it is used as an intermediate to produce dyes and chemicals as well as in medical products. Its other applications include perfumes for imitating orange and jasmine, UV-absorbers and corrosion inhibitors for mold & metal inhibitors, in organic synthesis for generating benzyne intermediate, as vitamin L1, in flavors, and as bird repellants. Other niche applications include soaps and detergents, plastics and rubbers, dyes and pigments, agrochemicals, paper, wool, and the textile industry.
Various factors are adding to the global isotopic acid anhydride market share. These factors, as per the new MRFR report, include its increasing use in dyes and pigments, pharmaceuticals, increasing disposable income and spending power of consumers, changing consumer lifestyles, growing demand in the agrochemicals sector particularly herbicides and pesticides, increasing population worldwide, demand for better crop yield, and increasing use as chain stoppers & chemical intermediates in rubber and polymer manufacturing.
Eminent players profiled in the global isotopic acid anhydride market report include TCI (Shanghai) Development Co., Ltd (China), KESHAR EMULSION PVT LTD (India), ISHITA INDUSTRIES (India), HIMALAYA CHEMICALS (India), Wujiang New Sunlion Chemical Co., Ltd. (China), Taj Active Pharmaceuticals Ingredients (India), Crystal Quinone Pvt. Ltd. (India), Alfa Aesar (India), The Dow Chemical Company (US), and BASF SE (Germany). Industry players have used strategies such as partnerships, mergers, acquisitions, joint ventures, and new product launches to stay ahead in the competition.
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The MRFR report provides an inclusive segmental analysis of the global isatoic acid anhydride market based on end user and application.
By application, the global isatoic acid anhydride market is segmented into flavors, saccharin, herbicides, pesticides, dyes and pigments, and others.
By end use industry, the isatoic acid anhydride market is segmented into food and beverages, perfume, agrochemicals, pharmaceutical, and others.
Based on the region, the global isatoic acid anhydride market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East & Africa. Of these, the Asia Pacific will have the lions share in the market over the forecast period. Factors propelling the market growth include huge consumption of isatoic acid anhydride in the agrochemical and dye & pigments industry, key players expanding their manufacturing capabilities, and technological advances. Burgeoning demand for isatoic acid anhydride from the agrochemical industry in South Korea, Taiwan, Japan, India, and China, and the presence of emerging economies are also adding to market growth.
The isotonic acid anhydride market in Europe is predicted to possess the second-largest share in the market over the forecast period for its growing demand in the food and beverage, pharmaceutical, and perfume industry.
The isatoic acid anhydride market in North America is predicted to have notable growth over the forecast period for the huge consumption of isatoic acid anhydride in pharmaceutical, agricultural, and other industries.
The isotonic acid anhydride market in Latin America and the MEA is predicted to have steady growth over the forecast period for the extensive application of isatoic acid anhydride in agrochemicals, perfume, dye and pigments, pharmaceuticals, and others.
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